Latin America to offer ample opportunities for Craniomaxillofacial Devices Market growth
According to a research report published by Global Market Insights, the global craniomaxillofacial (CMF) devices market size is estimated to reach USD 1.93 billion by 2023 from USD 1.14 billion in 2015. The key factors driving the growth of the market include expanding global geriatric population pool, technological advancements in CMF devices, growing road accident incidence rate, and reformed level of cognizance regarding aesthetics among the female population. Currently, North America is leading the overall market followed by Europe. However, Asia-Pacific is set to become most lucrative region by 2013. Latin America is also all prepared to provide ample opportunities in the coming years, due to significant unmet medical needs and a dynamic healthcare infrastructure. The segment, temporomandibular joint replacement products, is expected to grow at a healthy 11.2% CAGR over 2016–2023 and will offer strong growth potential to industry stakeholders.
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